colinneagle writes: Nokia and RIM, the two former leaders in the early smartphone market, are now basically at the end stage of their downward spirals. This is an opportunity for Microsoft, which wants to make some inroads in the smartphone market, assuming Microsoft it can play its cards right.

The question is which firm is worth more. Both have their values, especially in the patent areas. In terms of just smartphones, Microsoft would probably gain more from RIM, because it could integrate BlackBerry Enterprise Server into its own server products. Nokia, though, is a much older player and probably has a lot more of a patent portfolio.

The question then becomes which is an easier purchase. Nokia is a 150-year-old storied company. The Finns may not be too keen to let it go to an American firm.

There is the distinct possibility Microsoft acquires both firms and keeps the best of both worlds for hardware. But where does that leave OEM partners like LG, HTC and ZTE?